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pool declaration



Started March 31, 2017 at 02:46 pm by @william george allison in GoMarcellusShale

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william george allison
03/31/17 02:46:33PM
@william-george-allison

on a pool declaration what is the difference between title acres and contract acres?

Perrylkeaton
03/31/17 03:01:11PM @pete:

My guess would be the acres you own--title acres and acres in the pool--contract acres


william george allison
03/31/17 03:08:07PM @william-george-allison:

contract acres is what you would get royalties on then even though they leased all 18 acres?


James Brink, Esq.
03/31/17 03:13:05PM @james-brink-esq:

That's correct.  All of the acreage you may have leased may not have been included in the unit.  Therefore, you will have unused acreage.  Hopefully, you negotiated a Pugh clause in your lease permitting the unused acreage to be released in the event they are developed.


william george allison
03/31/17 03:19:20PM @william-george-allison:

no pugh clause but I learned from this and luckily the permit for this well was canceled


Perrylkeaton
03/31/17 03:36:43PM @pete:

oil and gas like to use pooling to hold as much land as possible, which is a farce with the current draw of 250 feet around the well bore and they can drill them 500 feet apart, if the pooling were based on science and the payout was on the length of the horizontal on your property we would see a new era in leasing terms. Like my property supports the well pad and 90% of the well bore but because of current pooling acreage wise only 25% of the production is allotted to me. one day i hope it will change and you will be able to more fully develop your property


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